Former President Donald Trump announced plans to significantly raise tariffs on India, citing the country's large-scale purchases of Russian oil and its resale for profit on global markets. Trump criticized India’s actions amid the ongoing war in Ukraine.
- Trump accused India of profiting from Russian oil while ignoring the conflict in Ukraine.
- He said he would “substantially” raise tariffs on Indian imports to the U.S.
- No specific tariff categories or implementation timeline were provided.
- The statement was issued via social media but has not been formalized as policy.
Relevant Companies
- Tata Motors (TTM) – Major Indian auto exporter to the U.S.; higher tariffs could impact vehicle pricing and competitiveness.
- Infosys (INFY) – Indian IT services firm with U.S. clients; trade tensions may raise compliance and operating costs.
- Reliance Industries (RELIANCE.BO) – Key player in refining and exporting petroleum products; reselling Russian oil may attract scrutiny.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
